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Professor Brett Davies, a barrister and solicitor at Legal Consolidated, explains the benefits of creating a declaration of trust before purchasing an asset. This document allow you to secretly purchase an asset without the vendor knowing your identity. This can be useful in private matters, such as buying a car like a Corvette Stingray 1986. By sending a trustee, like your best mate Robert, to purchase the asset, you can ensure that you retain ownership without the purchaser paying for it.
